You have been presented with the following production data and asked to fit statistical production functions:

PLANTOUTPUT (TONS)CAPITAL ($) LABOUR (HOURS)

1605.318,891700.2

2566.1 19,201651.8

3 647.1 20,655 822.9

4 523.7 15,082 650.3

5 712.3 20,300 859.0

6 487.5 16,079 613.0

7 761.6 24,194 851.3

8 442.5 11,504 655.4

9 821.1 25,970 900.6

10 397.8 10,127 550.4

11 896.7 25,622 842.2

12 359.3 12,477 540.5

13 979.1 24,002 949.4

14 331.7 8,042 575.7

15 1064.9 23,972 925.8

a.Quadratic Production Function

i.Estimate a quadratic production function where Q = output; L = labour input; K = capital input.

ii.Is the estimated production function "good"? Why or why not?